Economic Report: Are We In The Most Serious Financial Crisis In Our Lifetimes?

[Omaha Steve]

http://www.laborradio.org/node/8983

Economic Report:

If you feel like this recession is particularly bad, you may not be far off. Billionaire investor George Soros called the current state of the U.S. economy the “most serious financial crisis of our lifetime.” He told Reuters that the economic slowdown has been slow coming, “but the slower it comes, the more powerful it is.” Anywhere from 8000 to 9000 U.S. homes enter foreclosure every day.

[MadMaddie]

1. I think so...and this Administration and the MSM continue to suger

coat the state of the economy, the bank that failed wasn't even ont the list of 70 banks that are on the road to failure....so that tells me if one of the largest banks slipped through unnoticed and failed then there are more than 70 banks in trouble.

[roamer65]

2. The First Great Depression was slow in coming.

...so to will be the coming Second Great Depression. The Federal Reserve is simply drawing out the inevitable. Federal Reserve intervention is turning it into a hyperinflationary depression.

[FogerRox]

7. Correction, First Great Republican Depression.. &

2nd Great Republican Depression

[mdmc]

3. No.

I bet that I won't be able to tell the difference.
I still can by herb,
I cant still eat (not a restaurants, but oh well)
I still watch movies (month old -2 buck theater)
And I buy things I cherish - 18 bucks on the new Sedaris book / 3 bucks for a used Bukowski collection of poems.
I no longer drive 250 miles per week. I drive 100 of my own miles and 100 on the company dime.
I won't get dead / arlo guthrie tickets through ticketmaster - I'll take a change and get a tix at the door on discount.

If it gets bad, grab a gun and get yours. Protect yours. Otherwise, it won't be that bad.

[lib2DaBone]

4. Sleeping in your car?

Its all psycological. Hungry.... $5 gas.. just a figment of your imagination. Everyone is a whiner except for the wealthy Neocons.. who are great American Patriots. This message brought to you by America's low-information Fox News Voters.. <snark on of course>

[Cartaphelius]

5. Ahem....

Does "Shock Doctrine" ring any bells to anyone?

[raccoon]

6. That's what I keep thinking. My 80 year old uncle said the other day it

was the worse he'd ever seen it.

See also


http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=3620580&mesg_id=3620580

[sammythecat]

8. Yes, I believe we are.

Millions of Americans struggle to get through the heating season. What the hell are they going to do this winter? I think this winter is going to be an absolute disaster for millions and I can't think of a good reason not to expect this.